Credit Card Calculator
Credit Card Debt Repayment Calculator
To calculate how long it'll take and how much it'll cost to pay off your existing credit card debt,
To calculate if it makes sense to transfer your existing credit card debt to a new credit card,
About the Calculator
The calculator makes some assumptions. Some figures are also rounded. The actual time and cost of repaying your credit card balance may differ from this estimate. Please use your most recent credit card bill. You might get more precise information about paying off your credit card from your credit card issuer.
This calculator is provided "as is" and on an "as available" basis without representations or warranties, expressed, or implied, including, without limitations, warranties of suitability, merchantability, and fitness for a particular purpose. CreditDonkey is not liable for damages of any kind arising from the use of (or inability to use) this calculator.
By using this calculator, you accept these terms.
Balance: This amount may appear on the first page of your bill as "Total Balance" or "New Balance"
APR: You may see several APRs on your bill. For example, you may have an APR for purchases and a different APR for cash advances. Use the highest current APR on which you have a balance. Using the highest APR on which you have a balance means that the actual time it will take you to pay off your balance may be shorter than the calculated estimate. This assumption is necessary because we do not know how your payments will be applied when you have balances with different APRs. We also assume that the APR for your account will not change.
Minimum Payment: Your credit card issuer may require a minimum payment. We do not know whether the minimum payment on your bill represents only a percentage of your total balance or include amounts that vary from month to month such as fees.
We assume that you do not use your credit card for any additional transactions and that you are not assessed any fees while you are paying the balance down.
We assume that your account is not past due and that your balance does not exceed the credit limit for your account.
We assume that your interest is calculated by applying a monthly rate. The monthly rate is calculated by dividing the APR by twelve.
